HDFC Bank Raises $1.75 Billion in Largest Overseas Bond Sale

HDFC Bank raised $1.75 billion through a dollar bond issuance, its largest overseas fundraise since 2008, with the funds settling on August 26.

The issuance consists of $500 million in three-year bonds at a 5.159% coupon and $1.25 billion in five-year bonds at a 5.401% coupon.

The bank utilized the 144A private placement route, with the bonds receiving a Baa3 rating from Moody's and a BBB rating from S&P Global Ratings.